FREE WGU PRINCIPLES-OF-MANAGEMENT UPDATES - NEW PRINCIPLES-OF-MANAGEMENT TEST BLUEPRINT

Free WGU Principles-of-Management Updates - New Principles-of-Management Test Blueprint

Free WGU Principles-of-Management Updates - New Principles-of-Management Test Blueprint

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Tags: Free Principles-of-Management Updates, New Principles-of-Management Test Blueprint, Instant Principles-of-Management Access, Valid Principles-of-Management Exam Pattern, Principles-of-Management New Practice Materials

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WGU Principles of Management at Western Governors University(IAC1) Sample Questions (Q24-Q29):

NEW QUESTION # 24
Entrepreneurs who want to start a new business need to understand the level of risk and both dimensions.
What do entrepreneurs use to assess levels of risk and innovation?
Choose 1 answer
involved in establishing a new venture and must then decide if they are comfortable with

  • A. Entrepreneurial strategy matrix
  • B. Entrepreneurial loss function diagram
  • C. Innovation creation diagram
  • D. Collaboration tracking matrix

Answer: A

Explanation:
Entrepreneurs who want to start a new business need to assess levels of risk and innovation involved in establishing a new venture. The tool commonly used to assess these dimensions is the Entrepreneurial Strategy Matrix.
* Entrepreneurial Strategy Matrix(Answer D): This matrix helps entrepreneurs evaluate their business ideas by plotting the level of innovation (low to high) against the level of risk (low to high). This analysis aids in understanding the feasibility and potential success of the new venture by identifying which strategies are likely to succeed given the level of risk and innovation involved.
* Collaboration Tracking Matrix(Answer A) andInnovation Creation Diagram(Answer B): These are not standard tools used to assess risk and innovation in entrepreneurship as described in the textbook.
* Entrepreneurial Loss Function Diagram(Answer C): This is not a recognized tool for assessing risk and innovation in entrepreneurial ventures as per the principles of management.


NEW QUESTION # 25
Which customer relationship concept emphasizes the relationship between the company, the competition, and the customer? Choose 1 answer

  • A. Strategic relationship
  • B. Tactical strategy
  • C. Liaison concept
  • D. Strategic triangle

Answer: D

Explanation:
The customer relationship concept that emphasizes the relationship between the company, the competition, and the customer is the Strategic Triangle. This model highlights the importance of balancing these three elements to achieve competitive advantage. It involves understanding customer needs, monitoring competitor actions, and leveraging company strengths to deliver superior value to customers.


NEW QUESTION # 26
What is a characteristic of a person with an entrepreneurial personality? Choose 1 answer

  • A. Employeeempowerment
  • B. Laissez-faire
  • C. Motivation to excel
  • D. Opportunity tolerance

Answer: C

Explanation:
A characteristic of a person with an entrepreneurial personality is the motivation to excel.
* Motivation to Excel(Answer A): Entrepreneurs are typically driven by a strong desire to achieve and excel. They are competitive, have a high need for achievement, and are constantly seeking ways to improve and succeed in their ventures.
* Opportunity Tolerance(Answer B): While entrepreneurs need to tolerate risks and seize opportunities, the term "opportunity tolerance" is not specifically highlighted as a key characteristic of an entrepreneurial personality.
* Laissez-faire(Answer C) andEmployee Empowerment(Answer D): These are management styles or strategies rather than personal characteristics of entrepreneurs.


NEW QUESTION # 27
A corporation listens to people who are affected by change and solicits suggestions from people throughout the organization. Which strategy is the corporation using to overcome resistance to change? Choose 1 answer

  • A. Facilitation and support
  • B. Participation and involvement
  • C. Education and communication
  • D. Negotiation and reward

Answer: B

Explanation:
The strategy the corporation is using to overcome resistance to change is participation and involvement. This approach involves engaging employees who are affected by the change,soliciting their input, and incorporating their suggestions into the change process. By involving employees, the organization can reduce resistance and gain valuable insights that facilitate smoother implementation of changes.


NEW QUESTION # 28
What is a feature ofa bureaucracy (vertical) organization? Choose 1 answer

  • A. Decision making is decentralized so a considerable amount of information is communicated informally.
  • B. Employees must answer to two or more bosses and prioritize demands across departments.
  • C. Employees focus primarily on collaborating across departments and with frequent meetings.
  • D. Formal position authority is generally the primary means of running the organization.

Answer: D

Explanation:
A feature of a bureaucracy (vertical) organization is that formal position authority is generally the primary means of running the organization. This means that decisions and directives come from a hierarchical chain of command, and roles, responsibilities, and processes are clearly defined and standardized.
* Formal Position Authority(Answer B): Bureaucratic organizations rely on a clear hierarchy where authority and decision-making processes are well-defined and based on formal positions.
* Decentralized Decision Making(Answer A),Collaboration Across Departments(Answer C), andAnswering to Multiple Bosses(Answer D): These features are more characteristic of organic or matrix organizations rather than traditional bureaucracies.


NEW QUESTION # 29
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